Notion of US energy dependence is unrealistic

Notion of US energy dependence is unrealistic: ExxonMobil CEO

Vienna (Platts)--16Sep2004


The notion that oil consuming countries such as the US can attain complete
energy independence is unrealistic, ExxonMobil chairman and CEO Lee Raymond
said Thursday. Addressing the OPEC International Seminar in Vienna, Raymond
said energy efficiency measures had a value in stretching supply but that the
real focus should be on energy "inter-dependence." 

"The notion of energy independence was a flawed concept 30 years ago and it's
a flawed concept today," he said. "The focus should be how we deal with energy
inter-dependence," he said, adding: "The notion that you can withdraw from the
world and be on your own is not realistic." Raymond said the investments
required to bring on new supplies of oil would be "enormous" and urged
international oil companies and producer country governments to form
partnerships to ensure future access to reserves. "Of course, it is
governments that have the primary role in this arena," he said.

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